Friday, December 22, 2017 1:04:07 PM
2.) The GSEs only have 3 months before they have to draw from the treasury loc due to tax cut DTAs.
3.) The Jumpstart law expires on January 1st. After which Treasury has no restrictions regarding the Senior Prefered Stock.
4.) If Mnuchin does nothing about the GSEs, Congress could get the chance to pass another Jumpstart to prevent administrative action from the treasury and or president.
5.) In Passing another Jumpstart if given the chance, Corker, Warner, and Hensarling could gain leverage in undermining trump and the Adminstration.
6.) Corker, Warner, and Hensarling can stall on housing reform and come up with some creative way to force the GSEs to draw from Treasury. Then they would indirectly make Trump Adminstration less popular.
Basically Mnuchin and Trump allowing a draw on their watch is political suicide and would easily be used against them by their critics. Don't see any reason why they would allow that. Forgetting whatever their stance is regarding the GSEs, it would be politically hurting and something no politician would want to own.
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